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China has more than doubled its planned soybean purchases from the U.S. since August. Beijing is using purchase timing as a diplomatic tool ahead of the November U.S. election.
A doubling of planned purchases is a large new source of export demand that supports U.S. soybean prices. The risk of delays or cancellations makes the price support politically contingent.
asia.nikkei.comIORI KAWATE, TAISEI HOYAMA, Nikkei staff writersSep 17, 2020After 696 past bullish trade events, Soybeans moved a median +0.3% over 5 sessions (54% higher; middle half -1.3% to +1.9%), and +0.7% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
